New Star's Heart of Africa fund has raised £34m over the course of its three-week launch period ending on 9 November.
The fund, run by Jamie Allsopp, is aimed at sophisticated investors and invests in the sub-Saharan region excluding South Africa. New Star highlights strong economic growth, a reducing debt burden, high levels of foreign direct investment, increasing levels of political stability, strong demand for resources and a low level of correlation with other world markets as attractions of the region. Mark Skinner, managing director, New Star Asset Management, says: “To raise £34m at launch has exceeded our expectations. This sum raised so far has allowed Jamie to commit to a high conviction port...
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